Lacoste (company)
From Wikipedia, the free encyclopedia
| Lacoste | |
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| Type | Private |
|---|---|
| Founded | 1933 |
| Headquarters | Corporate: Paris, France Distribution: Troyes, France |
| Industry | Retail |
| Products | Apparel, Shoes, Perfumes |
| Website | www.lacoste.com |
Lacoste is a French apparel company founded in 1933 that sells high-end clothing, footwear, perfume, leather goods, watches, and eyewear, and most famously tennis shirts. The company is easily recognized by its green crocodile logo.
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[edit] History
René Lacoste was a famous French tennis player who achieved fame in two areas: tennis and fashion. While winning the 1926 U.S. Open championship, Rene Lacoste of France wore something that he himself had created: a white, short-sleeve shirt made exclusively of a light knitted fabric called ‘jersey petit piqué’ that served to wick away moisture due to heat, the very first version of performance clothing in sports. The shirt was a radical departure from tennis fashion of the day, which called for stiff, woven, long-sleeve oxfords. In 1927 during the Davis Cup, the American press nicknamed Lacoste "the Alligator" because of a bet made about an alligator-skin suitcase. With no cognate in his native tongue, the nickname was changed to le crocodile in French. The nickname stuck due to his tenacious behavior on the courts, never giving up his prey. Lacoste’s friend, Michael Tabb, drew him a crocodile which Lacoste then embroidered on the blazer he wore on the courts.
After retiring from tennis, Lacoste founded La Societe Chemise Lacoste in 1933 with André Gillier, the owner and President of the largest French knitwear manufacturing firm at the time. They began to produce the revolutionary tennis shirt Lacoste had designed and worn on the tennis courts with the crocodile appliqué embroidered on the chest, serving as the first example of a brand name appearing on the outside of an article of clothing[citation needed]. In addition to tennis shirts, Lacoste produced shirts for golf and sailing. In 1951, the company began to expand as it branched from "tennis white" and introduced color shirts. In 1952 the shirts were exported to the United States and advertised as "the status symbol of the competent sportsman", influencing the clothing choices of the upper-class.
In 1963, Bernard Lacoste took over the management of the company from his father René. Significant company growth was seen under Bernard's management. When he became president, around three hundred thousand Lacoste products were sold annually. The Lacoste brand reached its height of popularity in the US during the 1970s when the tennis shirt became an essential of the preppy wardrobe, even getting mentioned in Lisa Birnbach's Official Preppy Handbook of 1980. The company also began to introduce other products into their line including shorts, perfume, optical and sunglasses, tennis shoes, deck shoes, walking shoes, watches, and various leather goods.
In the United States in the 1970s and 1980s, Izod and Lacoste were often used interchangeably because starting in the 1950s, Izod produced clothing known as Izod lacoste under license for sale in the U.S. This partnership ended in 1993, when Lacoste regained exclusive U.S. rights to distribute shirts under its own brand. It was also in the 80's when Le Tigre Clothing came around. It was said to be the American alternative to the French brand.
More recently, Lacoste's popularity has surged due to French designer Christophe Lemaire’s work to create a more modern, upscale look. In 2005, almost fifty million Lacoste products sold in over one hundred and ten countries. Its visibility has increased due to the contracts between Lacoste and several young tennis players, including American tennis star Andy Roddick and French rising young prospect Richard Gasquet. Lacoste has also begun to increase its presence in the golf world, where noted 2 time Master champion, José María Olazábal and scottish golfer Colin Montgomerie have been seen sporting Lacoste shirts in tournaments.
Bernard Lacoste became seriously ill in early 2005, which led him to transfer the presidency of Lacoste to his younger brother and closest collaborator for many years, Michel Lacoste. Bernard died in Paris on March 21, 2006.
As of 2006, Lacoste licenses its trademark to various companies. For example, Devanlay owns the exclusive worldwide clothing license, Pentland Brands has the exclusive worldwide license to produce Lacoste footwear, and Samsonite holds the worldwide license to produce Lacoste bags and small leather goods.
[edit] Company info
The company is currently owned at 65% by the Lacoste family and at 30% by Devanlay and 5% by the Tugwells. Procter and Gamble is licence-holder for the fragrance line.
Lacoste is headquartered in Paris. Lacoste currently has its production capital in Troyes, France, though they delegate production of international clothing to numerous factories around the world, including those found in Peru and Morocco. After a 2 year search in the Central American region, Lacoste established production for its US customers in the Miramar Free Trade Zone in El Salvador. El Salvador operations will be managed by a new the local subsidiary Textil El Salvador(TRANS).
[edit] Brand management
In the early fifties Rene Lacoste teamed up with David Crystal, who at the time owned Izod, to produce Izod lacoste clothing. In the 1970s and 1980s it was extremely popular with teenagers who called the shirts simply Izod. The partnership ended in 1993 over quality control problems on Izod's part. The Lacoste name was revived in 1995 less Izod.
However, starting in 2000, with the hiring of a new fashion designer, Christopher Lemaire, Lacoste began to take over control of its brand name and logo, reining in their branding arrangements. Now, Lacoste has once again returned to the elite status it held before a brand management crisis in the '70s and '80s.
